Oil gains after US seizes more vessels linked to Venezuela

Brent crude’s price has moved higher following news that the US Coast Guard has seized two oil tankers, allegedly carrying sanctioned Venezuelan oil.

IMAGE: US Coast Guard personnel. US European Command VIA X (formerly Twitter)

The US European Command said in a statement that the tanker MV Bella 1 was seized in the northern Atlantic Ocean.

White ‍House ‍spokeswoman Karoline Leavitt said Washington had deemed the tanker "stateless" after it switched to a Russian flag while sailing. “This was a Venezuelan shadow fleet vessel that has transported sanctioned oil,” Leavitt said at a White House press brief.

Soon after the seizure, the US Southern Command shared a video on the social media platform X (formerly Twitter) showing army personnel seizing another oil tanker, MT Sophia, for coordinating “illicit activities” in the Caribbean Sea.

The US Department of Homeland Security and Department of War “apprehended a stateless, sanctioned dark fleet motor tanker without incident,” the US Southern Command said.

The news comes in the wake of Washington’s latest operation in Caracas that led to the detention of Venezuela’s President Nicolas Maduro and his wife.

US forces have also captured two other vessels in recent weeks – on 10 December and on 20 December respectively – as it continues efforts to crack down Venezuela’s “illicit” oil trade.

Last month, US President Donald Trump ordered a “complete and total” blockade of sanctioned oil tankers moving in and out of Venezuela.

“Both vessels — the Motor Tanker Bella I and the Motor Taker Sophia —were either last docked in Venezuela or enroute to it,” US Homeland Security Secretary Kirsti Noem said in a post on X.

Washington has long regarded Maduro as an illegitimate “dictator” since he declared victory in the 2018 presidential election, which was widely criticised over claims of serious irregularities.

However, the broader motive behind the move is linked to Venezuela’s past nationalisation of US oil assets, including the ousting of US oil company ExxonMobil in 2007.

By Aparupa Mazumder

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